When running a business, the last thing you want to worry about is your employees’ medical insurance. If you have more than 50 full-time employees, this will be required by law. However, if you do not meet this requirement, it does not mean that you should ignore the need for coverage. Damon Becnel discusses how to set up medical insurance for your employees and what options are available to make sure they get all of the care they need while staying in compliance with federal regulations.
The first step is to decide who the coverage goes too. If your company does not have 50 full-time employees, you will want to limit this group of people to include only the essential positions in the business. For example, if you have 20 full-time workers and 30 part-timers, then there should be no reason why all 60 cannot get medical insurance through work. However, since part-timers do not usually need health care benefits as urgently because they are often covered under their spouse’s plan or another pro
On the other hand, if your organization has over 250 employees total (full time and part-time), but less than 50 hold full-time positions , you might consider including all of them in your plan. This may seem counterintuitive, as there is a higher risk of claims from the larger group. But if your business does not have a large enough part-timer population to keep premiums at an affordable level for those working 40 hours or more per week, then offering insurance to everyone may be helpful.